- Pay zero closing costs
- Detailed mortgage calculator
- BBB accredited
- Slightly above-average interest rates
- Only available in VA, NC, and SC
Cap Center at a Glance
|Direct lender or marketplace?||Direct lender|
|Loan types||Purchase, refinance|
|Featured Loans||Conventional, jumbo, FHA, VA|
|Repayment terms:||10-30 years|
|Minimum Down Payment:||3%|
|Minimum Credit Score:||580|
|Best for:||Eliminating closing costs|
Cap Center is a unique mortgage lender that offers mortgages with zero closing costs. This can save you between 1 and 3% on the cost of your mortgage when you close on a new home. Cap Center charges slightly higher interest rates than competitors, but you can use the lender’s calculators to see how much money you will save by eliminating closing costs.
Cap Center offers a wide range of mortgages, including conventional, jumbo, FHA, and VA loans. The lender also offers mortgage refinancing. You can choose a 10, 15, 20, or 30-year repayment period, and you can qualify for a mortgage with a down payment as low as 3%.
One thing to note is that Cap Center is only available in three states at this time: Virginia, North Carolina, and South Carolina.
Cap Center is best for homebuyers who want to eliminate closing costs. Most mortgage lenders typically charge closing costs ranging from 1 to 3% of the value of your mortgage, which can be thousands of dollars. Cap Center does not charge these fees and doesn’t subtract them from your mortgage principal.
Instead, it charges slightly higher-than-average interest rates. Depending on the length of your mortgage and the interest rate you qualify for, you could end up saving money by paying no closing costs but a higher interest rate. Cap Center offers a detailed mortgage calculator to help you determine how much you can save.
Types of Loans/Products
Cap Center offers a variety of loans, including conventional and jumbo mortgages, FHA and VA mortgages, and mortgage refinance loans. All loan types come with zero closing costs.
- Minimum 580 credit score
- Conventional mortgage rates from 2.280% APR
- Minimum 3% down payment
- Zero closing costs
- 10 to 30-year terms available
The Application Process
You can apply for a mortgage with Cap Center online. You don’t need to submit personal information to get a quote, and you can complete the online application in less than five minutes. You will need to provide information about your income, current properties, and any outstanding debt.
Once you’ve applied, a loan officer will get in touch by phone to complete your mortgage request. Cap Center typically goes from application to closing in a few weeks. Note that once your mortgage has closed, you will be directed to a third-party servicer to make payments.
Cap Center offers conventional loans and mortgage refinance loans with 10, 15, 20, or 30-year terms. FHA and VA loans are available in 15 and 30-year terms.
Help & Support
Cap Center loan officers are available by phone, email, and live chat from 8:30 AM to 5 PM (ET) Monday to Friday.
Phone: (800) 968-5844
Cap Center offers zero-closing-cost mortgages in Virginia, North Carolina, and South Carolina. The lender offers a detailed mortgage calculator so you can see how much you’ll save compared to other lenders, and you can apply online. Conventional mortgages are available with 10 to 30-year terms.
Will applying for a mortgage impact my credit?
Cap Center runs a hard credit check when you apply for a mortgage, so it will impact your credit score. You can get a quote without a credit check.
Does Cap Center service my mortgage?
No, Cap Center creates mortgages and then sells them to a third-party servicer. You will make payments to the third-party servicer.
Can I close remotely?
No, Cap Center requires you to close on your mortgage in person.
Can Cap Center help me find a home?
Cap Center has a team of real estate agents that you can use when looking for a new home.
Cap Center, 4510 Cox Rd #402, Glen Allen, VA 23060